NAEA Propertymark comments on referral fees transparency recommendations from National Trading Standards

Mark Hayward, Chief Executive of NAEA Propertymark, comments on referral fees transparency recommendations from National Trading Standards.

“New legislation which will require agents to display referral fees is a step forward, providing clarity to agents that they mustn’t fall foul of the law but importantly ensuring greater transparency for consumers to avoid any confusion about what agents are charging for. This is something we’ve been working closely with government and the National Trading Standards on, and given that agents were facing a complete ban of referral fees, we would strongly advise that anyone who isn’t currently displaying their fees should start now, regardless of when the new laws will come into force. ”

Kindly shared by NAEA Propertymark

Main article photo courtesy of Pixabay